ManOrg: Symmetrical Triangle Tightens – Big Move Ahead?🔎 #OnRadar
#ManOrg (Mangalam Organics Ltd.)
Symmetrical Triangle Tightens – Big Move Ahead?
CMP: 516.65
📈 Technical Outlook (Monthly Chart | For Educational Purpose Only):
#SymmetricalTriangle pattern appears to be forming on the monthly timeframe.
The price has faced repeated resistance near the falling trendline around 629 and is currently showing signs of a possible retracement towards the lower end of the triangle. The key support zone lies between 473–378 .
If this zone holds, price may attempt another move up toward the falling trendline resistance. A monthly close above the trendline could indicate a potential breakout from this long-term structure. If sustained, the stock may gradually head toward its all-time high zone near 1,300 .
⚠️ Disclaimer: This post is shared only for educational purposes. It is not a buy/sell recommendation. Please consult a financial advisor before making any investment decisions.
#TechnicalAnalysis | #SymmetricalTriangle | #ChartPatterns | #PriceAction | #LongTerm
Mangalam Organics Ltd
No trades
In-depth trading ideas
Rounding Bottom patternRounding Bottom pattern is formed & the stock is trading at strong resistance.
We can see a breakout as volume is rising in the stock &
golden crossover is done in daily chart.
The ratio chart is also on breakout.
Entry :- 650
Target :- 710/800/910
SL :- 590
What's your view?
DAY=259/366 (15/9/2024)365 DAYSHARDCHALLENGE
Mangalam Organics LtdIt is the world's largest manufacturer of Camphor.
Its an small cap with just 300 Cr (so a risky bet).
Its near its all time low.
Current price is near its book value.
Stock PE is too high as compare to industry PE.
Promoter Holding is good & No promoter Pledged.
Debt is less than reserves.
Negative ROCE & ROE.
Demand Zone are marked as green shaded horizontal area.
Resistances are marked as red horizontal lines.
Stoploss is marked as orange horizontal line.
Demand Zone is from 325 to 300, which may act as reversal zone.
Demand zone has double bottom in it & also its all time low level, which may act as reversal point.
Levels:-
Buy 325 - 300
Stoploss 280
Tgt 440 to 1300
Tgts as Marked on the chart
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. Facts or Data given above may be slightly incorrect. We are not SEBI registered.
Rounding Bottom PatternThe stock has broken the rounding bottom pattern and successfully restest with continuation after the breakout. Can be bought for a target of 870. CMP-850.
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Happy Trading :)
PS- I always believe in trading in stock with good to medium fundamentals(can also be seen from my history of suggested stocks). The success mantra for trading is to mix fundamental and technical analysis to protect capital.
MANGALAM ORGANICSNote:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
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Keep an eye ladies and gentlemen. Cheers and Happy Trading






















